A federal judge in Manhattan has given initial approval to a settlement that would see Jeffrey Epstein’s estate pay up to $35 million to victims who sued two of the deceased financier’s former advisers.
U.S. District Judge Arun Subramanian on Tuesday found the proposed agreement to be fair and set a September 16 hearing to consider final approval. The settlement was first announced by victim attorneys at Boies Schiller Flexner on February 19.
The agreement would resolve a 2024 class action lawsuit targeting Darren Indyke, Epstein’s former personal attorney, and Richard Kahn, his former accountant. Both men currently serve as co-executors of Epstein’s estate and were accused of helping facilitate his sex trafficking of young women and girls.
This latest settlement adds to previous payouts from Epstein’s estate. A victim compensation fund previously distributed $121 million, while additional settlements totaled $49 million.
Legal representatives for Indyke and Kahn did not respond to requests for comment Tuesday. However, one of their attorneys had previously stated that neither man “made any admission or concession of misconduct” in agreeing to the settlement.
Epstein was found dead in his New York jail cell in August 2019 while awaiting trial on sex trafficking charges. Authorities ruled his death a suicide.
The Justice Department has released millions of documents this year from its Epstein investigation, revealing his connections to wealthy and influential individuals worldwide.
In their lawsuit, attorneys alleged that Indyke and Kahn assisted Epstein in establishing a complicated network of companies and financial accounts that allowed him to conceal his criminal activities and compensate both victims and recruiters. The lawsuit claimed the two advisers were “richly compensated” for their services.
The same law firm representing the victims previously secured $365 million in settlements from JPMorgan Chase and Deutsche Bank, alleging the financial institutions ignored warning signs about Epstein’s activities while he remained a profitable client.
